FactoringClub

Best Factoring Companies

Rick Hultz

Rick Hultz • Club President

FactoringClub Awards 2019

As the premier online resource for factoring companies in the U.S. and Canada, we have selected this year’s top 8 business factoring companies based on contract terms, customer service and company leadership.

Best factoring companies of 2019 award emblem.

EXCELLENT TERMS   •  OUTSTANDING SERVICE  •  PROVEN LEADERSHIP

Max Tolsky of DSA Factors
"DSA gives you the personalized service that the larger factors can't possibly give. You deal directly with our principals."
Max, Principal
Contact
3126 N Lincoln Ave, Chicago, IL

DSA Factors is an Chicago factoring company that serves all types of businesses nationwide. DSA Factors is dedicated to the growth and success of their clients by providing quick accounts receivable financing, flexible credit risk assessments, generous credit lines and superior collections management. They have over 20 years experience providing factoring services to both Mom and Pop's and Fortune 500 companies. You don't have to sign a long-term agreement or pay minimums.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 5,000,000
Advance Rate (%): 90%

Terms of Service:

How much is your start-up fee? $325
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Maintain 10% reserve, any excess is paid after customer pays
What additional fees do you charge? ACH and wire fees
Scott Coffey of Exchange Capital
"We will answer all of your questions, help you through our easy signup process, and get you funded quickly."
Scott, President
Contact
2843 Prince Street, Conway, AR

Exchange Capital is an Arkansas factoring company that has been providing accounts receivable factoring since 1991. Their focus is on full service and great client relationships. Exchange provides same day funding, complete invoice processing, monitoring, collecting, and reporting. You don't have to pay any startup fees. You also don't have to sign a long-term agreement or pay minimums.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 3,000,000
Advance Rate (%): 80-85%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Immediately after the customer pays.
What additional fees do you charge? ACH and wire fees
Lisa Hultz of Mazon Associates
"Our mission is to help you grow your business, while providing first-class service with excellence, friendliness and integrity. "
Lisa, President of Sales
Contact
800 West Airport Freeway, Irving, TX

Mazon Associates is a factoring company in the Dallas / Fort Worth area that is one of the oldest factoring companies in the nation. Since 1976, Mazon has delivered professional invoice factoring services to over one thousand clients. They have a reputation for handling clients in a friendly and professional manner. Mazon is an industry leader in oil and gas factoring, as well as manufacturing, staffing and business services. You don't have to pay a startup fee and you can cancel your contract within 30 days for any reason.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 2,000,000
Advance Rate (%): 80-85%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? Depends on pricing
Can I select which invoices I want to factor? You can select which customers you want to factor
When is my reserve available? Upon request
What additional fees do you charge? ACH and wire fees
Patricia Windon of New Century Financial
"NCF is dedicated to exceeding your expectations with the highest level of service, innovation, and execution."
Patricia, Business Development Officer
Contact
1780 Hughes Landing Blvd., Suite 675, The Woodlands, TX 77380

New Century Financial is a factoring company in The Woodlands, Texas that was founded in 1985. New Century has grown over the years into an innovative invoice financing company serving businesses across the U.S. They provide a quick start application process with no startup fees. You'll get a specially tailored "Just-In-Time Cash" invoice factoring program and streamlined funding process to take your business to the next level. You can cancel at anytime and you don't pay minimums.

Financial Information:

Minimum Credit Facility ($): 50,000
Maximum Credit Facility ($): 5,000,000
Advance Rate (%): 90%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Weekly
What additional fees do you charge? None
Jana Blackburn of Allegiant Business Finance
"Our mission is to be the best factoring company possible, with both our services and our factoring rates."
Jana, VP Operations
Contact
600 University Street, Suite #2328, Seattle, WA

Allegiant Business Finance is a Seattle factoring company that began providing accounts receivable factoring services in 2003 to the local Seattle community. Today, they provide invoice factoring services not only to Seattle, but to businesses all across the U.S. Allegiant has a record of helping thousands of small and medium-sized companies in industries such as trucking, staffing, manufacturing, oilfield services, technology and more. Their funding process is quick and simple, with no startup fees. You don't have to sign a long-term contract or pay minimums.

Financial Information:

Minimum Credit Facility ($): 30,000
Maximum Credit Facility ($): 3,000,000
Advance Rate (%): 90%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Immediately after customer pays
What additional fees do you charge? None
Josie Ramirez of Flash Funding
"We are a family owned and operated factoring company that is committed to providing fast, easy and reliable funding."
Josie, Sr. Business Development Manager
Contact
10622 Hirsch Road, Houston TX 77016

Flash Funding is a Houston factoring company that offers factoring services to growing companies throughout the United States. We are a family owned and operated factoring company, led by experienced professionals. We're committed to providing fast, easy and reliable invoice financing. Flash Funding specializes in the transportation, oil & gas, manufacturing, and staffing industries. They cut through the red tape to get you funded, with no startup fees. You can cancel at anytime and you don't have to pay minimums.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 5,000,000
Advance Rate (%): 85-97%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Weekly
What additional fees do you charge? ACH and wire fees
Greg Porter of Capital Funding Solutions
"With hundreds of satisfied clients served over 15 years and an A+ BBB rating, Capital Funding Solutions is your partner for growth."
Greg, VP Sales & Marketing
Contact
2021 Tyler Street, Hollywood, FL

Capital Funding Solutions is a factoring company in the Greater Miami Area that provides fast, professional, and honest service. They can put together a custom financial package that fits your business. In addition to invoice factoring, they also offer purchase order and asset-based receivables financing. You don't pay any application fees, startup fees, or minimums. If you decide to leave for any reason, you don't pay any cancellation fees.

Financial Information:

Minimum Credit Facility ($): 20,000
Maximum Credit Facility ($): 10,000,000
Advance Rate (%): 75-85%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? Depends on pricing
Can I select which invoices I want to factor? Yes
When is my reserve available? Semi-monthly
What additional fees do you charge? None
Robyn Barrett of FSW Funding
"FSW Funding is a national lender focused on offering fast, flexible and innovative funding options to U.S. based businesses."
Robyn, Managing Member
Contact
4530 E. Shea Blvd., Phoenix, AZ

FSW Funding is a factoring company located in Phoenix that's been delivering incredible customer service since 2001. FSW provides flexible and affordable factoring services to startups, growing businesses, as well as credit-challenged companies. You'll receive experienced and personal one-on-one attention. They have a simple application and quick approval process. You can factor when you want, with no minimums and no long-term contracts.

Financial Information:

Minimum Credit Facility ($): 50,000
Maximum Credit Facility ($): 3,000,000
Advance Rate (%): 80-85%

Terms of Service:

How much is your start-up fee? $250 - $500
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Weekly or upon request
What additional fees do you charge? ACH and wire fees

Choosing a factoring company

Industry

Factoring companies typically fall into 3 categories when you’re looking for a factoring partner for your business. First, you have the majority of factoring companies that provide invoice factoring for business services and staffing. Second, you have freight factoring companies that focus exclusively on factoring for transportation and trucking businesses. Third, you have factoring companies that specialize in niche industries like construction, healthcare and international trade.

Customer Service

The best factoring companies offer excellent customer service. You want to work with friendly, knowledgeable and professional people. Good factoring companies hire and retain good workers. Sales people should be friendly and transparent. Account managers should be responsive and attentive to your everyday needs with your invoices and customers.

Factoring companies must have good customer service.
Factoring company directory

Terms and Features

Good factoring companies offer reasonable rates and favorable terms such as no long-term contracts, no monthly minimums and they don’t require you factor all your company invoices. Factoring rates typically range anywhere from 2% to 5% depending on your sales volume, receivable days outstanding and overall risk. If your business experiences frequent fluctuations in revenue then avoid monthly minimum payments. You also don’t want to factor all your invoices if you don’t need the funds. You may want to factor only your slow-paying accounts or specific customers.

Local factoring services

After you narrow your selection of factoring companies based on your industry, you may prefer a factoring company located in your city or state. FactoringClub provides the information you need with over 100 factoring companies located in most major cities and states. We have listings categorized by city, state and industry. Our search capabilities make it easy for you to select your industry and state and so you can focus on nearby factoring companies.

Invoice Factoring Is Quick & Easy

After you complete the sale of goods or services to your customer, send your invoice to your factoring company.

Your factoring company buys your invoice and sends you 75% to 90% of the invoice amount within 24 to 48 hours.

Your factoring company collects the accounts receivable from your customer and sends you the reserve as final payment.

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